SAS — Earnings Release 2017

Mar 8, 2017

SAS Interim Report November 2016 - January 2017

SAS Interim Report November 2016 - January 2017

SEASONALLY WEAK EARNINGS AS EXPECTED

- structural measures being planned

NOVEMBER 2016 - JANUARY 2017

· Income before tax: MSEK -697 (-309)

· Income before tax and nonrecurring items: MSEK -707 (-404)

· Revenue: MSEK 8,957 (8,275)

· EBIT margin: -6.4% (-2.2%)

· Net income for the period: MSEK -556 (-246)

· Earnings per common share: SEK -1.95 (-1.01)

· The outlook for the full year 2016/2017 is retained.

COMMENTS BY THE PRESIDENT AND CEO OF SAS:

We are putting a seasonally weak quarter behind us, which, as expected, was

worse than the preceding year. The inadequate profitability emphasizes the

importance of SAS mobilizing to address the cost disadvantages that we have

compared with more recently established competitors. Accordingly, we are working

on the details of further measures to create long-term competitiveness and

profitability. Overall, we foresee a large number of activities ahead, aimed at

reducing the cost gap between SAS and more recently established competitors.

This, combined with the establishment of new bases in London and Spain, will

prepare for a strong SAS that can leverage all of the exciting growth

opportunities that exist in our market.

This information is information that SAS AB is obliged to disclose pursuant to

the EU Market Abuse Regulation. The information was submitted for publication,

through the agency of the contact person set out above, at 8:00 a.m. CET on

March 8, 2017.